Latest in Highlight
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Egyptian business community supports government’s efforts to establish stability
“We cannot ignore latest movements that threaten our ability to develop business and create jobs,” says EBA’s chairperson
EGX30 plunges by 3.16% in morning trading
On Sunday, EGX indexes bled heavily amid intense selling by Egyptians leading to market losses of EGP 31.5bn
Friendlier business environment required in Egypt: WB
Senior economist at WB calls on government to simplify customs procedures
COMESA Industrial Strategy cleared for implementation
Ministers urged member states to integrate activities of Regional Action Plan into their National Industrial Development Plans for implementation
Seamless NA 2019: MerQ among top 5 emerging companies specialised in FinTech
MerQ’s participation comes within the framework of supporting the state’s strategy and the Central Bank of Egypt (CBE) to spread awareness of financial inclusion
Parliament approves Egypt’s largest-ever budget of EGP 1.6tn for FY20
EGP 326.8bn for health and education, EGP 301bn for wages, EGP 149bn for food and commodities subsidies
HC Research expects Egypt’s inflation to reach 14.2% in FY 2019, 12.4% in FY 2020
CBE may resume interest rate cuts in Q4 of 2019, with a total of 5% over 2 years, says Saada
FRA approves legislative amendments to Central Depository and Registry law
Omran added, in a Sunday statement, that the proposed amendments aim to make the Central Depository and Registry Law comprehensive, regulating the clearing and settlement operations, whether in the current or future exchanges
Maged Shawky nominated as executive chairperson, Ibrahim Karam as CEO of Beltone Financial
Sameh El-Torgoman, Bassem Azab, Sherine Helmy, Ahmed Soliman resign from Beltone
MSMEDA seeks new financial cooperation with South Korea
Egypt to reach new economic heights under Al-Sisi’s leadership: Deputy Minister Yun
MARAKEZ to Open Mall of Tanta in Q4 with EGP 1bn in investments
The company plans to open the mall in the fourth quarter (Q4) of 2019, expecting that it would welcome 10,000 to 12,000 daily visitors
Tamweely Microfinance increases capital to EGP 75m
Company targets expansion to 40 branches by year-end, 60 branches by 2020, says chairperson
International financial partners consolidate Egypt’s private sector activities
KfW’s current portfolio in Egypt is at €2.6bn
Egyptians Abroad prepares to set up investment fund in logistics services with EGP 2bn
Fund aims to invest in dry ports, transport operations, storage areas
Fawry considers entering field of IPO payment in EGX offerings through company’s outlets next year
We have achieved great success in funding traders who previously contracted with Fawry, we plan to expand this: Okasha
New Swedish firms likely to begin operations in Egypt during 2019
‘We have seen rapid improvement of Egypt’s business climate,’ says Swedish ambassador
Korean MoFA’s Deputy Minister for Economic Affairs to visit Egypt on Tuesday
Visit to witness several high-level meetings with Egyptian officials, says ambassador
Third metro line ticket prices increase to EGP 5, EGP 7, EGP 10
Commuters differed on hike; some looking for alternatives
“We intend to double size of our fleet in Egypt during upcoming 2 years”: UTEET Managing Director
Since inception of Breakbulk Europe, UTEET has been participating with its own large booth
GB Lease finalises its 2nd securitised EGP 767m bond offering
The second tranche consists of EGP 353m, 36-month callable bond with a variable yield of 90 bps over the net after tax return on 182-day Egyptian T-Bills
MSMEDA pumped EGP 89.2m to finance 3,836 projects in Qena in 5 months
Governorate seeks to cooperate with agency to help young graduates implement projects, become entrepreneurs, said Al-Hagan
Abu Qir Fertilizers launches wastewater treatment project with EGP 343m investments
Company to begin calcium ammonium nitrate production by H2 of 2020
Egypt’s budget deficit drops to 5.6% in 10M of FY 2018/19
According to the financial report, the overall deficit declined as a result of the higher growth rate in revenues than the growth rate of expenditures
Egypt-Ukraine trade exchange likely to remarkably hike by end of 2019
Both countries’ economic reforms to positively reflect on development of joint cooperation, says Ukrainian ambassador
Global Lease borrows EGP 200m from EALB to finance leasing
Company in process of signing EGP 25m loan with Saudi Financing Fund
Safina Shipping Services aims to increase its sales volume to EGP 120m in 2019
Safina Shipping Services plans to increase its sales volume by 20% in 2019 to reach EGP 120m, compared to EGP 100m last year
NOSCO considering implementing projects in petrochemical, electricity sectors
Breakbulk good opportunity to modernise fleet equipment, interview foreign partners: Nadeem
Hassan Allam acquires majority stake in Bioworks
Founders of Bioworks will continue to manage operations
Egypt’s annual headline inflation rises to 14.1% in May
Pundits expect CBE to cut interest rates by year-end
Gold Traders Syndicate warns shops from spread of counterfeit gold
Dealing with official invoices, checking gold, prevents traders getting involved in robbery cases: Michel